3 Bed Semi-Detached House, Refurb/BRRR, Thornton-Cleveleys, FY5 2BT, £180,000

Ormont Avenue, Cleveleys, FY5 2BT - 2 views - 6 months ago

Under Offer
Refurb/BRRR
Planning
~119 m²
+16 photos

ValuationFair Value

Sold Prices£82.5K - £700K
Sold Prices/m²£1.1K/m² - £4.5K/m²

 

 

Square Metres

~119 m²
Price/m²£1.5K/m²

Value Estimate

£181,800

 

 

End Value (After Refurb)

£238,000

Uplift in Value

+32%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£45,000

Stamp Duty & Legal Fees

£6,600

Refurb Costs

£48,221

Bridging Loan Interest

£4,725

Total Cash In

£106,296

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£238,000

Mortgage (After Refinance)

£178,500

Mortgage LTV

75%

Cash Released

£43,500

Cash Left In

£62,796

Equity

£59,500

Rent Range

£700 - £1,200

Rent Estimate

£903

Running Costs/mo

£944

Cashflow/mo

£-41

Cashflow/yr

£-496

Gross Yield

6%

Local Sold Prices

50 sold prices from £82.5K to £700K, average is £164K. £1.1K/m² to £4.5K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£300.6K07/230.05 mi23, Richmond Avenue, Thornton-cleveleys, Lancashire FY5 2BP3
£122K02/210.05 mi22, Richmond Avenue, Thornton-cleveleys, Lancashire FY5 2BP3
£217K09/210.09 mi70, Chester Avenue, Thornton-cleveleys, Lancashire FY5 2AY3
£170K09/210.1 mi4, Cypress Avenue, Thornton-cleveleys, Lancashire FY5 2JA3
£168K12/220.11 mi467, North Drive, Thornton-cleveleys, Lancashire FY5 2HR3
£190K12/210.12 mi3, Ramper Gate, Thornton-cleveleys, Lancashire FY5 2AU3
£455K12/220.12 mi11, The Grove, Thornton-cleveleys, Lancashire FY5 2JD3
£438.2K02/230.15 mi11, Whiteside Way, Thornton-cleveleys, Lancashire FY5 2BQ3
£275K03/210.15 mi11, Whiteside Way, Thornton-cleveleys, Lancashire FY5 2BQ3
£197K03/210.15 mi30, Cleveleys Avenue, Thornton-cleveleys, Lancashire FY5 2AZ3
£385K01/210.17 mi8, West Drive, Thornton-cleveleys, Lancashire FY5 2BJ3
£200K02/230.18 mi8, Stanley Avenue, Thornton-cleveleys, Lancashire FY5 3NQ3
£700K05/230.21 miAshville, Holmefield Avenue, Thornton-cleveleys, Lancashire FY5 2QP3
£120K09/210.21 mi20, Shakespeare Road, Fleetwood, Lancashire FY7 7HG3
£127.5K07/210.23 mi23, St Davids Avenue, Thornton-cleveleys, Lancashire FY5 3NL3
£175K12/200.24 mi58, Cleveleys Avenue, Thornton-cleveleys, Lancashire FY5 2BB3
£400K09/210.24 miWestoria, Holmefield Avenue, Thornton-cleveleys, Lancashire FY5 2QT3
£130K10/210.25 mi51, Leicester Avenue, Thornton-cleveleys, Lancashire FY5 2DW3
£182K03/210.25 mi67, Leicester Avenue, Thornton-cleveleys, Lancashire FY5 2DW3
£180K08/210.25 mi433, North Drive, Thornton-cleveleys, Blackpool FY5 3AP3
£137K03/230.26 mi416, North Drive, Thornton-cleveleys, Blackpool FY5 3AR3
£150K12/210.27 mi11, St Andrews Avenue, Thornton-cleveleys, Lancashire FY5 3NJ3
£125K10/210.27 mi38, St Andrews Avenue, Thornton-cleveleys, Lancashire FY5 3NJ3
£220K07/210.28 mi559, North Drive, Thornton-cleveleys, Lancashire FY5 2PD3
£217K04/210.3 mi22, Wolsey Close, Thornton-cleveleys, Lancashire FY5 2NZ3
£370K01/210.31 miThe Hawthorns, Linden Close, Thornton-cleveleys, Lancashire FY5 2RA3
£127K06/230.32 mi18, Merlyn Road, Thornton-cleveleys, Lancashire FY5 3AZ3
£254.8K03/230.32 mi132, West Drive, Thornton-cleveleys, Lancashire FY5 2JG3
£110K02/230.33 mi38, Lincoln Avenue, Thornton-cleveleys, Lancashire FY5 2DT3
£103K07/210.33 mi12, West Drive West, Thornton-cleveleys, Lancashire FY5 1EB3
£147.5K06/210.33 mi12, Crescent Avenue, Thornton-cleveleys, Lancashire FY5 3JE3
£90K11/200.33 mi36, Durham Avenue, Thornton-cleveleys, Lancashire FY5 2DP3
£177.5K02/230.33 mi19, Leicester Avenue, Thornton-cleveleys, Lancashire FY5 2DH3
£120K06/210.33 mi51, Nutter Road, Thornton-cleveleys, Lancashire FY5 1BQ3
£360K05/230.35 mi11a, Rowland Lane, Thornton-cleveleys, Lancashire FY5 2QX3
£153K12/200.35 mi26, Conway Avenue, Thornton-cleveleys, Blackpool FY5 3JH3
£106K04/210.35 mi107, Anchorsholme Lane East, Thornton-cleveleys, Blackpool FY5 3AT3
£170K04/230.36 mi91, Anchorsholme Lane East, Thornton-cleveleys, Blackpool FY5 3PE3
£160K03/210.36 mi11, Knowle Avenue, Thornton-cleveleys, Lancashire FY5 3PW3
£124K12/200.37 mi5, Bedford Avenue, Thornton-cleveleys, Lancashire FY5 2EA3
£130K04/230.38 mi4, Slinger Road, Thornton-cleveleys, Lancashire FY5 1BN3
£82.5K01/230.38 mi9, Clegg Avenue, Thornton-cleveleys, Lancashire FY5 1BJ3
£152K06/210.38 mi6, Bedale Place, Thornton-cleveleys, Blackpool FY5 3PD3
£192K07/230.39 mi61, Anchorsholme Lane East, Thornton-cleveleys, Blackpool FY5 3QN3
£210K03/210.39 mi67, Anchorsholme Lane East, Thornton-cleveleys, Blackpool FY5 3QN3
£125K04/210.39 mi88, Anchorsholme Lane East, Thornton-cleveleys, Blackpool FY5 3QN3
£157K01/210.39 mi19, Lauderdale Avenue, Thornton-cleveleys, Blackpool FY5 3JP3
£117K07/230.4 mi380, North Drive, Thornton-cleveleys, Blackpool FY5 3PF3
£126K07/230.4 mi1, Gloucester Avenue, Thornton-cleveleys, Lancashire FY5 2DQ3
£137K01/210.41 mi24, Neville Avenue, Thornton-cleveleys, Blackpool FY5 3BG3

Local Rents

22 rents from £700/mo to £1.2K/mo, average is £898/mo.

RentDateDistanceAddressBeds 
£80004/240.12 miElms Avenue, Thornton-Cleveleys3
£70004/240.13 miVictoria Road West3
£1,00003/250.18 mi-3
£97504/240.2 miStockdove Way, Thornton-Cleveleys3
£82504/240.3 mi-3
£93204/240.31 mi-3
£97504/250.31 mi-3
£92704/240.31 miNorth Drive, Cleveleys, FY53
£75804/240.38 miSlinger Road, Thornton-Cleveleys, Lancashire, FY53
£85004/240.38 mi-3
£85004/240.4 miNorth Drive, Thornton-Cleveleys, Lancashire, FY53
£99504/240.42 mi-3
£99504/240.42 mi-3
£89504/240.42 mi-3
£99504/240.42 mi-3
£99504/240.42 mi-3
£82504/240.43 miCumberland Avenue, Thornton-Cleveleys3
£82504/240.43 miCumberland Avenue, Thornton-Cleveleys3
£1,20005/240.49 miQueensbury Road, Thornton-Cleveleys3
£82505/240.52 miThornton-Cleveleys, Thornton-Cleveleys, FY53
£82512/240.52 mi-3
£90104/240.55 miAlconbury Crescent, Thornton-Cleveleys, Lancashire, FY53

Local Area Statistics

Population in FY5

44,800

Town centre distance

0.80 miles away

Nearest school

0.30 miles away

Nearest train station

2.71 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+2%

Sales demand

Balanced market

Capital growth (5yrs)

+21%

Property History

Price changed to £180,000

November 23, 2024

Listed for £190,000

November 4, 2024

Floor Plans

Description

Deceptively spacious three bedroom semi detached family home for sale situated on Ormont Avenue in Cleveleys. The property is ideally located for local shops, schools and amenities and offers an ideal renovation project for those who are seeking a spacious family home in a sought after location, driveway parking and two spacious reception rooms. Accommodation briefly comprising; entrance hall, lounge, dining room, kitchen, ground floor w.c, ground floor bathroom with separate shower room area, landing, three bedrooms, modern three piece shower room, gardens to the front and rear with garage and driveway parking. *The property used to be 2 separate flats however has since been converted back to one title with further planning permission for a single storey extension. Wyre Council Planning application number-24/00305/FUL *

HALLWAY
Leading from a separate entrance vestibule, stairs leading to first floor, radiator.

LOUNGE
13'5 x 12'11 (4.08m x 3.95m)
Upvc double glazed bay window to the front aspect, radiator, open fire place.

DINING ROOM
16'11 x 12'0 (5.17m x 3.65m)
Upvc double glazed bay window to the rear aspect, fitted storage, radiator.

KITCHEN
9'5 x 7'8 (2.88m x 2.34m)
Upvc double glazed window to the side aspect, radiator.

GROUND FLOOR W.C

SEPARATE SHOWER ROOM- (Potential to extend the current Kitchen into this area)

GROUND FLOOR BATHROOM
9'5 x 6'0 (2.88m x 1.84m)
UPVC double glazed window to the rear aspect.

LANDING
Upvc double glazed window to the side aspect, loft access hatch.

BEDROOM ONE
15'8 x 12'0 (4.77m x 3.65m)
Upvc double glazed bay window to the rear aspect, radiator.

BEDROOM TWO
13'0 x 12'0 (3.97m x 3.65m)
Upvc double glazed bay window to the front aspect, radiator.

BEDROOM THREE
9'6 x 7'4 (2.88m x 2.23m)
Upvc double glazed window to the front aspect, radiator.

SHOWER ROOM
9'5 x 6'0 (2.88m x 1.84m)
Upvc double glazed opaque window to the side aspect, three piece tiled suite comprising of walk in shower, vanity hand wash basin, low flush WC, heated towel rail.

EXTERNAL

FRONT
A range of mature shrubs/plants, driveway providing off road parking.

REAR
Mainly laid to lawn rear garden, access to garage.

GARAGE

COUNCIL TAX BAND- TBC

TENURE
We have been informed that the property is Freehold; prospective purchasers should seek clarification of this from their solicitors.

VIEWINGS
Viewings are strictly by appointment through the agents office.

All measurements are approximate and for illustrative purposes only. Digital images are reproduced for general information only and must not be inferred that any item shown is included for sale with the property. We have been unable to confirm if services / items in the property are in full working order. The property is offered for sale on this basis. Prospective purchasers are advised to seek expert advice where appropriate.

Agent Details

The Square Room, Fylde Coast

01253 835668

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪